We came close today (1.1797) to yesterdays high of 1.1808.
The ECB (Eurozone Central Bank) released its monthly report, and decidied to keep the key interest rates unchanged. The expectation is that price pressures will remain subdued, but that the risks for price stability outlook are broadly balanced. To you and I the ECB are trying to convince the markets that the Single Currency is a safe bet, even with the bubbling couldrons of Austerity Debt accross the nations.
ECB inflation expectations medium term meanwhile are “anchored in line with the Governing Council’s aim of maintaining inflation rates below, but close to, two per cent”.
I believe that the Euro will continue this weeks weakness and we could se trading in the mid 1.18s by close of trading tomorrow. Euro buyers could do well whilst the rates are in this region, as 1.1850 is incredibly close to the year high.
Feel free to get in contact if you have a Sterling / Euro transaction that you need assistance in timing correctly. It is also worth dropping me a line, should you not have the Currency available yet, as there are options available to you. Depending on your situation, you may be able to fix your rate of exchange and avoid any further unfavourable market movements – a distinct possibility!!
Drop me a line on the trading floor to have a chat!
01494 787 478